Counterfeit Fashion Takes a $28 Billion Bite Out of the Industry

You've seen fake designer fashions before. Whether you've copped a bag from a sketchy street vendor, or you're a fan of FakeWatchBusta on Instagram; designer knockoffs aren't just a thing—they're a major player in our global fashion industry. There's a reason we've posted material to help you spot fake apparel and sneakers when you're out shopping—they're honestly everywhere.

If you don't believe us, check this report from Yahoo, which claims that counterfeit merchandise makes up around 10 percent of the fashion industry in the EU. That may not mean much at first glance, but when you realize that slice is worth $28 Billion—well, it's a whole lot bigger than your corner bootleggers trying to make a few bucks.

But that's not all. When you factor in the extended effects of bootlegged fashion, then the numbers skyrocket. While the EU battles with unemployment across 28 different countries, somewhere between 363,000 and 520,000 have lost their jobs due to counterfeit goods. For Italy, the damage is especially terrible, with the Italian fashion industry seeing losses of around $4.9 billion and nearly 50,000 jobs.

Before you cop that "discount" Louis Vuitton or Gucci from a sidewalk seller, you may want to think twice.